Ophelia Snyder, president of the multibillion-dollar investment firm 21Shares, believes the cryptocurrency market is still in its early stages. Early Adopter Dominance Despite a market capitalization of $2.6 trillion, Snyder notes that most institutions and intermediaries are yet to invest in crypto. This suggests that the market has significant potential for growth. Bitcoin and Ethereum…
Crypto analyst Dave the Wave remains optimistic about Bitcoin’s prospects despite recent setbacks. Short-Term Targets Dave the Wave predicts Bitcoin will rise above $100,000 later this year. He believes the cryptocurrency will continue its upward trend as long as it remains above a specific support line. Long-Term Goals Based on his logarithmic growth channel indicator,…
Active Addresses vs. Transaction Count Bitcoin’s activity metrics have been showing a split recently. Active Addresses, which track unique addresses participating in transactions, have been plummeting. However, the Transaction Count, which measures the total number of transfers, has reached all-time highs. Behind the Trend This divergence is linked to the decline in Bitcoin Inscriptions. Inscriptions…
Make It or Break It A crypto expert has declared that Dogecoin (DOGE) and Solana (SOL) have reached a crucial stage. This “make it or break it” moment could lead to a much-needed rebound for these cryptocurrencies. Positive Outlook The analyst believes that this is actually good news for DOGE and SOL. The reason? Bitcoin,…
Concerns over Token Distribution ZkSync, an Ethereum scaling solution, recently announced an airdrop of its ZK token. However, the community has expressed concerns about the lack of anti-Sybil filtering and the perceived unfairness in token distribution. Some users have reported receiving low allocations despite being active long-term users. Others were ineligible for the airdrop despite…
The Theory of Money Supply and Asset Valuation Fidelity’s Jurrien Timmer explains that when governments increase the money supply, it can weaken the currency’s value. He believes that inflation is coming, based on the historical relationship between money supply and inflation. Bitcoin and Gold as Inflation Hedges Both Bitcoin and gold are considered inflation-resistant assets….
Bitcoin is currently experiencing a phase where struggling miners are selling off their holdings, according to on-chain analyst Willy Woo. Miner Capitulation The Bitcoin halving event in April has triggered a “culling” of weak miners. This event, which occurs every four years, reduces the rewards miners receive for verifying transactions, limiting the new supply of…
Economist Henrik Zeberg predicts that the current “everything bubble” in the economy will continue to inflate. Market Capitalization to GDP Ratio Zeberg highlights the historical significance of this ratio, which measures the value of all publicly traded stocks relative to the size of the economy. He notes that this ratio has reached unprecedented levels of…
Two Democratic senators, Elizabeth Warren and Jacky Rosen, have urged Federal Reserve Chair Jerome Powell to cut interest rates. They argue that high rates are hurting the economy by: Increasing Housing Costs Interest rates drive up rental prices, mortgage payments, and construction costs. This limits housing supply and keeps prices high. Raising Auto Insurance Costs…
A popular crypto analyst believes Bitcoin (BTC) will dip one last time before soaring to record highs. Bull Pennant Pattern Bluntz, a pseudonymous analyst, says BTC is forming a “bull pennant” pattern on its three-day chart. This suggests a final leg down to around $60,000, setting the stage for a rally above $80,000. $87,500 Target…
